Carl Icahn

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ETF Trading Volume Eclipses US GDP





"In the past 12 months investors traded $18.2 trillion worth of ETF shares. For perspective, that means the amount of dollars exchanging hands through ETFs is now more than the U.S. gross domestic product, which stands at $17.4 trillion," Bloomberg reports. Or, put differently, the financial apocalypse draws near. 

 
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Is This Why Hillary Clinton Just Went Nuclear On Short-Term Capital Gains Tax?





"Hillary Clinton will propose a revamp of capital-gains taxes that would hit some short-term investors with higher rates, part of a package of measures designed to prod companies to put more emphasis on long-term growth," WSJ reports. Interested to know who might be pulling the strings behind the scenes? Read on...

 
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Wall Street Prepares To Reap Billions From Another Main Street Wipe Out





"They are going to be toast. It will be one of our first levels of shorting the moment we start to see cracks, because it’s ripe with retail, emotional investors."

 
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Icahn Vs. Fink: Wall Street Legends Clash Over "Dangerous" ETFs





On Wednesday, Carl Icahn and Larry Fink engaged in an epic debate about the role ETFs play in perpetuating systemic risk. Icahn, taking a page from the Tyler Durden playbook, talks phantom liquidity before calling BlackRock "a dangerous company", and opining that Fink and Janet Yellen are "pushing the damn thing off a cliff."

 
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The Last Time This Happened In Credit, Bernanke Unleashed QE3





While Carl Icahn's latest ramblings have brought attention to the 'bubble' in high-yield debt, we would note that the HY market has already dramatically diverged from the ongoing bubble in US equities and as we have been discussing for the past year, this is exactly the pattern we saw in 2008. However there is another aspect of the HY market that is flashing red, High yield debt downgrades are the highest since Lehman and the upgrade / downgrade ratio has tumbled to its lowest since the crisis...  The last time this happened, Bernanke unleashed QE3 - are we about to see the same in a massive surprise to markets?

 
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Frontrunning: June 25





  • This headline needs updating: Creditors set bailout ultimatum for defiant Greeks (Reuters)
  • Greece’s Fragile Banks Leave Alexis Tsipras Few Options in Bailout Talks (WSJ)
  • Dueling Greece Plans Presented as Ministers Race for Aid Deal (BBG)
  • Icahn Cashes In His Netflix Chips (WSJ)
  • Meet the Health-Law Holdouts: Americans Who Prefer to Go Uninsured (WSJ)
  • ECB holds Athens lifeline unchanged as Bundesbank protests (Reuters)
  • Supreme Court Guide: Six Big Decisions Remain (WSJ)
  • The Rise of the Compliance Guru—and Banker Ire (BBG)
 
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Carl Icahn Crushes CNBC's Perma-"Buy Stocks"-Bull$hitness





We suspect this will be the last time billionaire investor Carl Icahn is invited on CNBC. Having sold CNBC darling NFLX, he crushed the two main memes of CNBC's raison d'etre - buy stocks, because where else are you going to put your money - "what's better - making 2% or losing 30% as people did in 2008...right now it's an extremely dangerous time;" and the next leg of this bull market will come from an improving real economy - "the economy is not picking up, it is artificial due to low interest rates." The market has way over-estmated how long this will last, Icahn concludes, "keep your powder dry - why do have to own anything risky? It's just nonsensical."

 
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Carl Icahn Says "Market Is Extremely Overheated", Slams Permabulls





 
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Stunned Investors See NFLX Stock Split Gains Eviscerated As Icahn Exits





You just can't make this up... We're gonna need some greater fools!

 
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The "Smart Money" Just Sold The Most Stocks In History





According to BofA's Jill Hall, "BofAML clients were big net sellers of US stocks in the amount of $4.1bn, following four weeks of net buying. Net sales were the largest since January 2008 and led by institutional clients—after three weeks of net buying, institutional clients’ net sales last week were the largest in our data history."

 
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Signs Of Financial Turmoil Are Brewing In Europe, China And The United States





As we move toward the second half of 2015, signs of financial turmoil are appearing all over the globe. Slowly but surely, we are starting to see the smart money head for the exits. As one Swedish fund manager put it recently, everyone wants “to avoid being caught on the wrong side of markets once the herd realizes stocks are over-valued“.

 
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Carl Icahn: Donald Trump Is Completely Correct That "We Are In A Bubble Like You've Never Seen Before"





I am knowledgeable concerning markets and believe Donald is completely correct to be concerned that we have “a big fat bubble coming up.  We have artificially induced low interest rates.” I personally believe we are sailing in dangerous unchartered waters.  I can only hope we get to shore safely.  Never in the history of the Federal Reserve have interest rates been artificially held down for so long at the extremely low rates existing today.  I applaud Donald for speaking out on this issue – more people should.

 
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